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That's not true - Inflation + growth is what makes a pension fund designed for generating votes possible. Any system that intentionally pays out significantly
by Apes 3y ago
That's not true - Inflation + growth is what makes a pension fund designed for generating votes possible.
Any system that intentionally pays out significantly more than people pay in is going to have sustainability problems.
It's so bad with the California pension systems that they're facing immenant collapse, despite being in an economy with the highest growth rate in human history.
- harimau777 3y agoThe alternative doesn't seem workable either since it would require people to have enough surplus income to pay in enough for retirement. However, a huge segment of our population barely makes enough to live on.
- Apes 3y agoTrying to wallpaper over complex and deep rooted systemic issues by just declaring the outcomes we want to be law is the toxic zeitgeist that will probably both be our downfall, as well as what our era is best known for in the future. Creating an unsustainable pension system solves nothing. The only real solution is to root out the causes of unsustainable cost of living and address them. But doing that is far more difficult than just giving out "free" money, and gets almost no recognition from voters.
- theossuary 3y agoWhat era are you talking about? The 30s?
- Apes 3y agoYeah, roughly the 1920s through the next 20 years.